TPG, Apax among bidders for Nike's Cole Haan unit-sources

* Nike hired Goldman to sell Cole Haan-sources

* Handbag, shoe maker seen worth around $500 million-sources

* Auction in second round with several parties involved

By Olivia Oran and Soyoung Kim

NEW YORK, Aug 9 (Reuters) - Private equity firms TPG Capital
Management and Apax Partners are among several parties
in the running to buy Nike's leather handbag and shoe
maker Cole Haan, according to three people familiar with the
matter.

The auction process, which began earlier this summer, is in
the second round with Cole Haan likely to fetch around $500
million, two of the people said.

Nike, the world's biggest athletic shoe and clothing maker,
said in May it would look to sell Cole Haan and soccer gear unit
Umbro in order to divest non-core assets wh ile focusing on its
namesake brand, as well as Jordan, Converse and Hurley.

The company, which has said it will complete the sale of
both brands by June 2013, has hired Goldman Sachs Group
to run these auctions, sources previously told Reuters. Nike
acquired Cole Haan in 1988 for $80 million.

Private equity firm TPG already has close ties to the
high-end handbag and shoe maker. Matt Rubell, a former chairman
and chief executive officer of Cole Haan, is now a senior
advisor at the buyout firm.

Representatives for TPG and Apax declined to comment. Nike
and Goldman Sachs declined to comment.

Cole Haan is among several footwear companies that have gone
on the auction block in recent months.